Bitcoin flashed a warning sign this past weekend following the formation of a “Death Cross.” The bearish technical signal forms when a shorter-term Simple Moving Average (SMA) falls below a longer-term SMA. Most frequently used are the 50-day SMA and the 200-day SMAs. Following the formation of the cross, Bitcoin proceeded to test the bottom of its recent range around 32,000. Further weakness developed, which saw Bitcoin test the yearly low around $28,800, but that move was quickly retraced. {chart} Bitcoin finds itself in a unique position in that both fundamental and technical indicators favor downside momentum. ... (full story)